Naver to Acquire Crypto Exchange Upbit: Report
The South Korean internet giant is reportedly in talks to acquire the parent company of the country’s top crypto exchange.
South Korea’s largest internet search company, Naver, is in advanced talks to acquire Dunamu Inc., the operator of cryptocurrency exchange Upbit, through a stock-swap deal that would place Dunamu under Naver’s finance arm, according to local reports.
Under the proposed share-exchange plan, Naver Financial would issue shares to Dunamu shareholders rather than pay cash, though the timeline of the deal remains undisclosed. The structure would make Dunamu a wholly owned subsidiary of Naver Financial.
As of press time, Naver and Dunamu haven’t filed definitive public confirmations of final terms, Donga reports….
